Proposed amendments to CIT Act

We would like to inform you that the proposal to the act amending the provisions of the Polish CIT Act has been published on the website of the Government Legislation Center. The project is to be a response to the demands of the business and advisors in terms of changes introduced by the “Polish Deal”.

  • Published in CIT

Entry into force of changes in the “Polish Deal”

The President signed an act amending the “Polish Deal”. We are waiting for the publication of the act in the “Journal of Laws”. The rules, in principle, enter into force in July. The most important changes include: reduction of the PIT rate from 17% to 12% (under the first tax threshold) for taxpayers settling on

  • Published in CIT

Filing insolvency claim – impact on tax costs

In business practice, there are situations of bankruptcy of contractors. The creditors are then left with unpaid receivables. Some of them wonder whether to report them at all in the pending proceedings. Meanwhile, this circumstance is of great practical importance. At the outset, it is worth recalling that recognition of a bad debt, previously booked

  • Published in CIT

Legislation and practice – May in taxes

We present below a short summary of the most important changes in tax law and tax practice in May: the act amending the VAT Act was published the “Journal of Laws” (item 1137) – exemption for EU and NATO defense activities, extension of the so-called the first anti-inflationary shield by the end of July; The

VAT – delivery with assembly or ICA?

Entrepreneurs often buy machines abroad. In practice, the seller provides assistance in its launch and implementation, often sending a team of specialists from abroad. Entrepreneurs often forget that on the basis of value added tax (VAT), such a transaction may be accounted for as one of two taxable activities: intra-Community acquisition of goods (ICA) or

  • Published in VAT

Invoice from an unregistered taxpayer and VAT deduction

One of the most common tax problems faced in practice by VAT taxpayers are the situations of receiving an invoice issued by an entity not registered for VAT purposes (which can be seen, for example, by the fact that it does not appear on the “White List”). In such a case, is it possible for

  • Published in VAT

DEBRA – tax deduction on capital

The European Commission presented a proposal of solutions concerning the possibility of deducting the value of the capital increase from the tax base. It is a solution that is to build a “counterbalance” to the currently abused – according to the European Commission – debt financing. The genesis of the proposed solutions goes back to

  • Published in CIT

Polish “sugar tax” on syrups, powdered drinks and gels

The so-called the “sugar tax” raises, in practice, some interpretation doubts. Pursuant to Art. 12a (1) of the Public Health Act, the fee applies to the marketing of certain beverages (with added sugars, sweeteners, caffeine or taurine) on the domestic market. A drink is a product in the form of a drink and a syrup

Judgment: Operating lease costs are not covered by thin capitalization

The company leased equipment (locomotives) on the basis of leasing contracts, which for tax purposes were operating leasing (balance sheet financial leasing). The company asked whether the locomotive lease payments constitute debt financing costs within the meaning of the thin capitalization provisions (Article 15c of the Polish CIT Act)? In the opinion of the Company,

  • Published in CIT

Proposed changes to the “Polish Deal”

Today, Prime Minister Mateusz Morawiecki and Deputy Minister of Finance Piotr Soboń presented proposed changes to the “Polish Deal”, which are to meet “the opinions of taxpayers and experts”. The regulations are to come into force in July this year (although there is no bill yet). Below, the proposals for new solutions presented at the